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Case Study

Delivering market-leading customer experiences

Innovation increases revenue and competitive advantage

Key results

Putting the customer at the center

A leading retail bank in Europe decided to shift towards customer-centric processes. Fee management was especially ready for improvement. Many customers received five or more invoices – a hassle for the customers and expensive for the bank.

Finding a customer experience innovator

The bank looked for a way to put customers at the center of the invoicing process. Traditional banking software offered a path that added new layers of complexity. There had to be a better option.

Leaders at the bank explored how other highly regulated industries overcame complexity to take a customer-centric view. Amdocs came up again and again in their research. The bank decided to work with Amdocs to transform fee management into a customer-centric process.

A customer-centric view

The Amdocs team planned and deployed an approach that let the bank organize billing by customer. The bank shifted from multiple invoices per customer to one. This delivered an immediate customer experience boost. Customers received one invoice for multiple accounts and services.

The customer-centric fee management approach came with advantages beyond fewer invoices. The bank found it easy to bill monthly instead of quarterly, giving it more control over cash flow. Centralized management of billing led to less revenue leakage – an annual win of up to €1 million. The bank's cost-per-invoice fell by more than 75%. Customers noticed the difference too, and the bank's customer satisfaction score climbed by 50%.

Higher revenue with bundling

The bank saw another win: product innovation agility. It began to introduce new products and modify existing ones 200% faster. This opened the door to new products, personalization, and bundling.

Product innovation is delighting customers. For instance, commercial banking customers receive their first six transactions of the month with no fees. This saves them money. And it encourages larger transactions early in the month – an efficiency gain for the bank.

Automated quality assurance

The Amdocs team delivered an end-to-end quality assurance process, too. They relied on best practices to account for quality from the earliest stages of projects. The team also launched automated testing. Amdocs achieved 100% of the bank's business requirements – while reducing time spent on manual processes.

Service + Technology

= Innovation muscle

Amdocs services:

Software support, DevOps best practices, and quality assurance

Amdocs technology:

Revenue Management solution development and implementation

The result:

The bank is the market leader for digital experiences in its market

New revenue

The bank recently faced a new hurdle: calculating negative interest rates across accounts. The bank's competitors lacked a way to easily calculate negative interest across accounts. But not this bank. Its customer-centric view made it simple to perform the interest calculation. The bank rolled out negative interest at tiered account levels – ahead of the competition.